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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 15,571 $ 13,667 $ 30,709 $ 26,550
Interest on due from banks 725 517 1,632 900
Interest on investment securities:        
U.S. Government sponsored enterprises 2,551 2,280 5,142 4,510
States and political subdivisions 695 696 1,390 1,558
Other 528 439 1,007 882
Total interest income 20,070 17,599 39,880 34,400
Interest expense:        
NOW, MMDA & savings deposits 2,438 1,648 4,498 3,136
Time deposits 3,628 1,638 7,309 2,154
Junior subordinated debentures 283 259 567 507
Other expenses 305 283 786 494
Total interest expense 6,654 3,828 13,160 6,291
Net interest income 13,416 13,771 26,720 28,109
Provision for (recovery of) credit losses (468) 375 (377) 599
Net interest income after provision for loan losses 13,884 13,396 27,097 27,510
Non-interest income:        
Service charges 1,346 1,328 2,686 2,669
Other service charges and fees 180 163 364 345
Loss on sale of securities, net 0 0 0 (2,488)
Mortgage banking income 74 39 125 132
Insurance and brokerage commissions 219 206 465 434
Appraisal management fee income 3,181 2,590 5,595 4,684
Miscellaneous 2,521 2,077 4,324 4,238
Total non-interest income 7,521 6,403 13,559 10,014
Non-interest expense:        
Salaries and employee benefits 6,827 6,286 13,807 12,786
Occupancy 2,105 1,981 4,216 3,995
Professional fees 635 450 1,027 849
Advertising 95 156 377 345
Debit card expense 425 282 737 555
FDIC insurance 192 260 383 370
Appraisal management fee expense 2,523 2,049 4,427 3,699
Miscellaneous 2,329 2,155 4,673 4,722
Total non-interest expense 15,131 13,619 29,647 27,321
Earnings before income taxes 6,274 6,180 11,009 10,203
Income tax expense 1,386 1,372 2,173 2,223
Net earnings $ 4,888 $ 4,808 $ 8,836 $ 7,980
Basic net earnings per share $ 0.93 $ 0.88 $ 1.67 $ 1.46
Diluted net earnings per share 0.89 0.85 1.61 1.41
Cash dividends declared per share $ 0.19 $ 0.19 $ 0.54 $ 0.53